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10 Best Cheap Technology Stocks to Invest In

October 8, 2022 Audrey

In this article, we will be taking a look at the 10 Best Cheap Technology Stocks to Invest In. To skip our analysis of the recent technology trends, and market activity, you can go directly to see the 5 Best Cheap Technology Stocks to Invest In.

Technology has been at the forefront of advancement and innovation in the recent past and is expected to be the primary catalyst in the future as well. The advancements in technology have not only improved the quality of life for individuals but have also resulted in improved productivity and efficiency across almost all aspects of life.

According to McKinsey & Company, the latest trends in the technology revolve around 14 major technologies, with clean energy, mobility, and connectivity leading the trends in terms of the investments made during 2021. Clean energy technologies focused on the whole energy value chain, from power generation to storage and distribution, were at the forefront with $257 billion investment last year. Other major trends include applied AI, Cloud, and edge computing, Web3, and immersive reality technologies, among others.

Despite the growing investments and the increasing importance of technology in our lives, the technology sector and the stocks of the companies that are part of this sector have not fared well in the recent past. The Nasdaq-100 index, heavily weighted with technology stocks, was down year-to-date by nearly 31%, as of September 26, 2022.

Global markets have been going through a rough patch with fears of an economic slowdown due to inflation and aggressive monetary policies implemented by central banks. On September 21, the US central bank raised interest rates by three-quarters of a percentage point for the third consecutive time and signaled further increases in the future.

The increase in interest rates has led to a significant drop in share prices across the US market. If economic data fails to meet expectations, there’s potential for further declines in stocks. Given the uncertainty, diversification across different companies and sectors can be a good idea. Given the lower valuations, there could be an opportunity for long term investors to buy quality blue chip stocks.

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Methodology

For the list of 10 Best Cheap Technology Stocks to Invest In, we found cheap stocks by finding stocks that were trading significantly below the average analyst price target.

We then filtered those stocks by only including tech companies and using the collective wisdom of hedge funds, we ranked them by the number of hedge fund holders in our database who held shares in the same stock at the end of Q2 2022.

10 Best Cheap Technology Stocks to Invest In

10. International Business Machines Corporation (NYSE:IBM)

Number of Hedge Fund Holders: 40

International Business Machines Corporation (NYSE:IBM), based in Armonk, New York, is a technology company engaged in providing hybrid cloud and artificial intelligence (AI) solutions. It

Has CDK International (CDK) Outpaced Other Laptop or computer and Technologies Stocks This Yr?

May 17, 2022 Audrey

For individuals looking to obtain sturdy Pc and Technological know-how shares, it is prudent to search for firms in the group that are outperforming their friends. CDK World-wide (CDK) is a inventory that can surely get the attention of numerous investors, but do its latest returns review favorably to the sector as a whole? By taking a search at the stock’s 12 months-to-date general performance in comparison to its Pc and Technologies friends, we may possibly be ready to remedy that issue.

CDK Worldwide is just one of 667 individual stocks in the Computer system and Engineering sector. Collectively, these providers sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank consists of 16 various teams and is listed in purchase from finest to worst in conditions of the ordinary Zacks Rank of the person companies within every of these sectors.

The Zacks Rank emphasizes earnings estimates and estimate revisions to uncover shares with strengthening earnings outlooks. This technique has a prolonged record of achievements, and these stocks are inclined to be on keep track of to defeat the industry above the up coming 1 to 3 months. CDK World-wide is at present sporting a Zacks Rank of #2 (Acquire).

Around the earlier 90 days, the Zacks Consensus Estimate for CDK’s whole-yr earnings has moved .1% larger. This signifies that analyst sentiment is stronger and the stock’s earnings outlook is improving.

Centered on the most modern details, CDK has returned 29.4% so far this year. Meanwhile, the Laptop or computer and Technologies sector has returned an ordinary of -27.7% on a yr-to-day basis. As we can see, CDK World-wide is undertaking greater than its sector in the calendar 12 months.

A single other Pc and Technological innovation stock that has outperformed the sector so much this 12 months is Gree (GREZF). The stock is up 11.9% yr-to-day.

Around the previous a few months, Gree’s consensus EPS estimate for the recent yr has improved 109.5%. The stock at this time has a Zacks Rank #2 (Invest in).

On the lookout much more precisely, CDK World wide belongs to the Computer systems – IT Providers sector, a team that incorporates 40 personal stocks and currently sits at #165 in the Zacks Marketplace Rank. On regular, this team has misplaced an regular of 26.9% so significantly this year, which means that CDK is executing much better in conditions of year-to-date returns.

In distinction, Gree falls beneath the World-wide-web – Solutions business. At this time, this field has 48 stocks and is rated #157. Considering that the starting of the year, the sector has moved -25.5%.

CDK World wide and Gree could continue on their solid general performance, so investors fascinated in Laptop or computer and Technological know-how stocks ought to continue to pay back close interest to these stocks.

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Wanting for Stocks with Beneficial Earnings Momentum? Look at Out These 2 Computer system and Technology Names

May 6, 2022 Audrey

Wall Road watches a company’s quarterly report carefully to comprehend as considerably as attainable about its latest general performance and what to anticipate heading forward. Of study course, one particular figure frequently stands out amid the relaxation: earnings.

The earnings determine by itself is vital, but a conquer or skip on the base line can from time to time be just as, if not a lot more, important. For that reason, buyers ought to take into consideration paying close notice to these earnings surprises, as a huge conquer can help a inventory climb even larger.

2 Stocks to Insert to Your Watchlist

The Zacks Earnings ESP, or Expected Surprise Prediction, aims to find earnings surprises by concentrating on the most current analyst revisions. The basic premise is that if an analyst reevaluates their earnings estimate forward of an earnings release, it suggests they likely have new data that could quite possibly be a lot more precise. The main of the ESP product is comparing the Most Accurate Estimate to the Zacks Consensus Estimate, wherever the ensuing percentage big difference amongst the two equals the Predicted Surprise Prediction.

The closing move today is to look at a inventory that meets our ESP skills. Wix.com (WIX) earns a Zacks Rank #2 17 times from its following quarterly earnings launch on Could 16, 2022, and its Most Correct Estimate arrives in at -$.54 a share.

WIX has an Earnings ESP figure of 15.09%, which, as discussed over, is calculated by taking the proportion big difference in between the -$.54 Most Precise Estimate and the Zacks Consensus Estimate of -$.64.

WIX is aspect of a significant team of Personal computer and Technologies stocks that boast a optimistic ESP, and buyers may perhaps want to consider a seem at HubSpot (HUBS) as properly.

HubSpot, which is readying to report earnings on Could 5, 2022, sits at a Zacks Rank #3 (Keep) appropriate now. It is Most Accurate Estimate is currently $.47 a share, and HUBS is 6 times out from its future earnings report.

The Zacks Consensus Estimate for HubSpot is $.47, and when you choose the percentage variance amongst that variety and its Most Accurate Estimate, you get the Earnings ESP determine of .21%.

WIX and HUBS’ favourable ESP metrics could signal that a constructive earnings surprise for both shares is on the horizon.

Obtain Stocks to Invest in or Sell Prior to They’re Claimed

Use the Zacks Earnings ESP Filter to transform up shares with the maximum likelihood of positively, or negatively, shocking to invest in or offer just before they are claimed for lucrative earnings year investing. Check it out listed here

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Technological innovation, communications organizations lead stocks to close greater

April 6, 2022 Audrey

Stocks shook off a downbeat begin to near better Monday, as major gains by technological know-how and communications businesses assisted offset losses somewhere else on Wall Street.

The S&P 500 rose .8 % immediately after acquiring been down .2 percent in the early going. The Dow Jones Industrial Common rose .3 per cent and the Nasdaq composite extra 1.9 percent.

Twitter surged 27.1 p.c for the most significant obtain in the S&P 500 right after the firm disclosed that Tesla’s Elon Musk experienced taken a 9.2 per cent stake in the social media platform. In recent months Musk has publicly questioned the company’s dedication to free of charge speech. The gains had been a key factor in lifting the broader communications sector and keeping the S&P 500 in the inexperienced even as little fewer than 50 percent the organizations in the index fell.

The market’s latest moves follow three straight weekly gains by the S&P 500, even as investors grapple with uncertainties stemming from surging inflation, bigger desire premiums from the Federal Reserve and the economic fallout from the war in Ukraine.

The S&P 500 rose 36.78 factors to 4,582.64, the Dow acquired 103.61 points to 34,921.88, and the tech-hefty Nasdaq rose 271.05 points to 14,532.55.

More compact enterprise shares also received ground. The Russell 200 index rose 4.33 details, or .2 percent, to 2,095.44.

Apple and other significant technologies shares did the hefty lifting Monday, offsetting losses elsewhere. Tech corporations, with their pricey inventory values, are inclined to have far more body weight in pushing the market place up or down. Apple rose 2.4 p.c and Microsoft received 1.8 per cent.

Stores and other businesses that count on customer paying also helped elevate the industry. Tesla rose 5.6 percent, Amazon included 2.9 per cent and Property Depot shut 1.2 p.c increased.

Investors continue to keep an eye on the conflict in Ukraine, where by Russia could face even stricter economic sanctions now that specifics are rising of what look to be deliberate killings of civilians.

The European Union’s overseas policy chief, Josep Borrell, joined a growing chorus of intercontinental criticism of the alleged atrocities, saying the 27-nation bloc “will advance, as a make a difference of urgency, get the job done on further more sanctions from Russia.”

Russia’s invasion of Ukraine has elevated problems about increasing inflation and the impression on international economic advancement. Charges for all the things from food to outfits had presently been rising and the war has made for even a lot more volatile vitality rates.

The rate of U.S. benchmark crude oil rose 4 % and Brent crude, the intercontinental typical rose 3 p.c. Selling prices are up about 40 p.c globally, which has set stress on expenses for gasoline and other items.

Bond yields typically attained floor. The yield on the 10-year Treasury rose to 2.41 per cent from 2.38 % late Friday. The yield on the two-year Treasury dipped to 2.41 percent immediately after obtaining moved larger most previously in the day.

10 Technology Stocks to Buy According to Kevin Mccarthy’s Breakline Capital

March 31, 2022 Audrey

In this article, we discuss 10 technology stocks to buy according to Kevin Mccarthy’s Breakline Capital. If you want to skip our detailed analysis of Mccarthy’s history, investment philosophy, and hedge fund performance, go directly to 5 Technology Stocks to Buy According to Kevin Mccarthy’s Breakline Capital.

Kevin McCarthy, a former portfolio manager at Citadel, founded Breakline Capital in May 2017, which is a New York-based hedge fund. The hedge fund has a 13F portfolio valued at approximately $74.15 million as of Q4 2021, down from $121.80 million the previous quarter. For its investments, the hedge fund uses a long/short equity strategy, focusing on equities in the technology, finance, and consumer discretionary sectors during the fourth quarter of 2021.

However, in this article, we will lay emphasis on the tech stocks in Kevin Mccarthy’s Breakline Capital portfolio.

Some of the large-cap tech stocks in the portfolio of Breakline Capital as of the fourth quarter of 2021 include Applied Materials, Inc. (NASDAQ:AMAT), NVIDIA Corporation (NASDAQ:NVDA), and Marvell Technology, Inc. (NASDAQ:MRVL).

Even though the hedge fund trimmed its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 83% in the fourth quarter of 2021, it still owns 12,343 shares of the company, worth $1.94 million. Following the in-line performance, Citi analyst Atif Malik boosted his price objective on Applied Materials, Inc. (NASDAQ:AMAT) to $180 from $178 and reaffirmed a Buy rating on the stock on February 17.

The fund also has a significant stake in NVIDIA Corporation (NASDAQ:NVDA). In addition, on March 23, Citi analyst Atif Malik kept a Buy rating on NVIDIA Corporation (NASDAQ:NVDA) with a price target of $350.

Marvell Technology, Inc. (NASDAQ:MRVL) is another tech stock in Breakline Capital’s portfolio. Susquehanna analyst Christopher Rolland boosted his price objective on Marvell Technology, Inc. (NASDAQ:MRVL) from $100 to $105 on March 7 and maintained a Positive rating on the stock.

Our Methodology

Considering all these points, let’s start our list of 10 technology stocks to buy according to Kevin Mccarthy’s Breakline Capital. We compiled this list using information from Mccarthy’s 13F portfolio as of Q4 2021. Insider Monkey’s fourth quarter database of 924 prominent hedge funds was used for this investigation.

Technology Stocks to Buy According to Kevin Mccarthy’s Breakline Capital

10. QUALCOMM Incorporated (NASDAQ:QCOM)

Breakline Capital’s Stake Value: $2,937,000

Percentage of Breakline Capital’s 13F Portfolio: 3.96%

Number of Hedge Fund Holders: 75

QUALCOMM Incorporated (NASDAQ:QCOM) creates and sells the core technology and products that are utilized in wireless devices. At the end of the fourth quarter of 2021, 75 hedge funds in the database of Insider Monkey held stakes worth $4.80 billion in QUALCOMM Incorporated (NASDAQ:QCOM), up from 70 the preceding quarter worth $3.52 billion.

On February 4, Baird analyst Tristan Gerra boosted his price objective on QUALCOMM Incorporated (NASDAQ:QCOM) from $200 to $250 and maintained an Outperform rating. The various growth layer prospects in non-handsets, according to Gerra, were

4 Stocks to Gain in the Thriving Manufacturing Electronics Industry

March 23, 2022 Audrey

The Zacks Manufacturing – Electronics industry seems to be benefiting from higher economic activities, product innovation and growth in the e-commerce business. The industry is expected to continue progressing on strong domestic orders and higher export orders for electronics products.

The growing adoption of advanced manufacturing technologies and processes bodes well for the industry participants. Emerson Electric Co. EMR, Regal Rexnord Corporation RRX, Zurn Water Solutions Corporation ZWS and Franklin Electric Co., Inc. FELE are a few industry participants that might capitalize on the prevalent opportunities. Supply-chain issues, inflation in raw materials and labor issues weigh on the companies.

About the Industry

The Zacks Manufacturing-Electronics industry comprises companies that manufacture electronic products like battery charges, battery accessories, outdoor cabinet enclosures, power transmission products, electrical motion controls and motive power devices. Some industry players also provide water-treatment products, engineered flow components, process equipment and turn-key systems. In addition, the firms offer state-of-the-art customer support and after-market services to the end users. These companies are increasing investments for developing innovative technologies, boosting customer and employee experience as well as supply-chain modernization programs. The manufacturing electronics companies sell products and services in various end markets, including robotics, semiconductor, defense, aerospace, medical equipment and satellite communications.

Trends Shaping the Future of Manufacturing Electronics Industry

Strong Domestic Orders & Export Demand: The industry has been gaining from the consistent rise in manufacturing activities, with strong growth in domestic and international orders for electronic products. The ISM’s manufacturing index registered 58.6% in February, indicating expansion of the U.S. manufacturing activity for the 21st month in a row. Also, the metric came higher than the reading of 57.6% in January. The PMI reading above 50 underlines the expansion of manufacturing activities. In February, new orders registered 61.7%, higher than 57.9% in the previous month. Also, new export orders rose to 57.1% from 53.7% in the previous month. ISM’s measure of production in February was 58.5%, marking growth for the 21st successive month. This highlights the trend of healthy economic activities in the sector as companies are scaling up production with bulk orders. A surge in the e-commerce business, particularly amid the COVID-19 pandemic, has also proved beneficial.

Strength in the Electronics Services Market: The electronics manufacturers have been gaining from higher adoption of the advanced manufacturing technologies and processes by original equipment manufacturers. An increase in the requirement for integrating advanced electronic components into electronic devices has supported the electronics manufacturing services market. Also, few industry players with significant exposure to the booming medical and life science markets are witnessing strength across their businesses owing to robust demand for their products and solutions.

Technological Advancement Benefits: With the gradual development of business models and cutting-edge technologies, several industry players have been banking on digitizing their business operations for a while now. Digitization has been enabling several manufacturers to gain detailed insight into their operational performance, demand cycles, supply-chain issues, and delivery status. This is enabling them to bolster their competitiveness in the market with